Member States As Human Rights Protectors in International Financial Institutions: Matching Governance with Responsibility

This paper is a study of the possible human right obligations of international financial institutions. As financial institutions have not been looked upon as agencies influencing or influenced by human rights, this study becomes significant. The study is limited to international financial institutions, with a special focus on the World Bank (hereinafter ‘Bank’) and the International Monetary Fund (hereinafter ‘Fund’ or ‘IMF’). 2 Further, there is a special focus on developing nations.3

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Zimbabwe's opposition will bank on electoral alliance

Emerald Expert Briefings ◽

10.1108/oxan-db218015 ◽

2017 ◽

Keyword(s):

Human Rights ◽

Food Security ◽

Financial Institutions ◽

Public Expenditure ◽

Fall Armyworm ◽

International Financial Institutions ◽

Content Type ◽

Human Rights Abuses ◽

The Government ◽

Ruling Party

Significance With the country mired in a deepening economic crisis and the ruling party engaging in debilitating succession struggles, opposition parties are debating whether they can exploit the government's fiscal woes to contest forthcoming by-elections and national polls or to boycott elections in part or altogether. Impacts A fall armyworm outbreak is likely to devastate crops nationwide, prompting a food security crisis. The government will likely resist pressure from international financial institutions to curb public expenditure ahead of the 2018 elections. Increased human rights abuses by the authorities would prompt international condemnation and possible resumption of broader EU sanctions.

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Human Rights Obligations of European Financial Assistance Mechanisms

European Welfare State Constitutions after the Financial Crisis ◽

10.1093/oso/9780198851776.003.0002 ◽

2020 ◽

pp. 24-48

Author(s):

Anastasia Poulou

Keyword(s):

Human Rights ◽

Financial Crisis ◽

Financial Markets ◽

International Law ◽

Financial Institutions ◽

Financial Assistance ◽

International Human Rights ◽

Member States ◽

Eu Member States ◽

International Human

Having been affected by the European financial crisis that erupted in 2008, several EU Member States required financial assistance beyond that available in the financial markets. New financial assistance mechanisms, such as the EFSF and ESM, were created under international law and all financial assistance packages included the participation of the IMF. Despite their differences, these financial assistance schemes all combined supranational and international legal instruments and institutions. The hybrid nature of this European financial assistance raises the question of whether the actors involved in the award of the assistance are bound by EU and international human rights. Against this background, this chapter assesses financial assistance conditionality as applied by the different financial institutions from an EU and international human rights perspective, aiming to respond to the question whether European and international actors are bound by human rights when preparing financial assistance conditions.

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Human rights, international financial institutions and environmental and social due diligence: The value added of HRIA

Handbook on Human Rights Impact Assessment ◽

10.4337/9781788970006.00035 ◽

2019 ◽

pp. 405-423

Author(s):

Siobhán McInerney-Lankford

Keyword(s):

Human Rights ◽

Financial Institutions ◽

Value Added ◽

Due Diligence ◽

International Financial Institutions

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The Covenants and Financial Crises

10.1093/oso/9780198825890.003.0013 ◽

2018 ◽

Author(s):

Christine Kaufmann

Keyword(s):

Human Rights ◽

Financial Institutions ◽

Financial Crises ◽

Active Role ◽

International Financial Institutions ◽

New Paradigm ◽

Financial Regulations ◽

Different Types ◽

Conflicting Interests

This chapter identifies three key elements for effectively implementing the Covenants in times of financial crisis: a people-oriented, rights-based perspective, a process to foster coherence, and a new paradigm for bridging the gap between human rights and international financial regulations. It first analyses the anatomy of different types of financial crises from a rights-holder perspective and identifies the key actors and their potential impacts. It shows that, while financial crises share commonalities, their triggers, involved actors, and effects may vary substantially, leading to a complex web of relationships and responsibilities and norm fragmentation. This feeds into an expansion of focus from people to process and coherence with an analysis of the human rights responsibilities of international financial institutions and their members. The chapter concludes by suggesting translational human rights as a new paradigm for bridging the identified conceptual gaps and conflicting interests, and to pave the way for a more active role of the Covenants.

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